Finfactor Raises USD 15 Million in Series A from WestBridge
bolt Executive Summary
- Finfactor picked up USD 15 million in a Series A round. WestBridge Capital led the investment. Existing backers also put in money.
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Finfactor picked up USD 15 million in a Series A round. WestBridge Capital led the investment. Existing backers also put in money.
Funding details: USD 15 million (Series A)
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Finfactor raised USD 15 million in a Series A round.
WestBridge Capital led the round. Existing investors joined in, including Varanium Capital, DMI Sparkle Fund, and IIFL Fintech Fund.
The cash will go toward scaling products and analytics. Finfactor wants to build more tools for banks and become a full-stack provider. It plans to grow the team too.
The co-founders said they aim to make financial data more reliable and useful for institutions. This money will help speed up new solutions for lending and wealth management.
Finfactor started in 2019. It is the parent of Finvu, an RBI-licensed account aggregator. The company is based in Pune and works with banks like HDFC and Axis.
It has earlier raised about USD 2.5 million in seed money.
Finfactor provides APIs and open finance tools for financial institutions in India. It helps with data aggregation and AI insights for lending and wealth management. The company serves banks, insurers, and fintechs across the country.
Source:- Tech in Asia.
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